Akshaya Tritiya 2023: Ritual of buying gold on this auspicious day—Explained (2024)

Akshaya Tritiya festival is considered to be highly lucky for starting new businesses, making investments, and buying gold and real estate. Fewer obstacles come in the way and starting anything on this day led to eternal success and fortune.

Akshaya Tritiya 2023: History and Significance

The occasion is celebrated on the third day of the Shukla Paksha in the month of Vaisakh. According to the Gregorian calendar, this day falls sometime in April-May. It is on this day that both the sun and the moon are said to be at their planetary best alignment.

The day is also known as 'Akha Teej' and is being celebrated on April 22 this year. It is believed that tasks done on this auspicious day are blessed by divine powers and always prove beneficial. It is considered to be an auspicious day to bring home precious metals like gold and silver for prosperity. It was the day when the third of the four Yugas - Treta Yuga began.

Akshaya Tritiya 2023: Shubh Muhurat to buy gold

People usually buy gold and silver at this auspicious festival. They consider it auspicious as it symbolises wealth and is a valuable asset. People believe investing in gold on this day promises eternal fortune and never diminishing wealth.

People can buy gold today from 7.49 am to 7.47 am on April 23 (Sunday).

According to Hindu mythology, Lord Kuber, the deity of wealth is believed to have chosen to serve as the treasurer of heaven. Worshipping Kuber on this day is said to bestow devotees with the utmost success, wealth, and fortune.

According to Hindu scriptures, Akshaya Tritiya also marks the start of the Kaliyug and the end of the Dwapar yug.

Apart from buying gold, people arrange Akshata, fast, and offer Naivedyam Thali to god.

Akshaya Tritiya: Gold prices today

On Akshaya Tritaya, soaring gold prices have spoiled the mood. Gold prices have appreciated to the tune of 18% in the last one year whereas silver has delivered a 19% return to its investors.

Comparing gold and silver rates today with their prices on Akshaya Tritiya two decades ago, gold has given a 1000% return whereas silver has surged nearly 900% during this time.

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Published: 22 Apr 2023, 09:19 AM IST